How To Write A Business Plan

Tips to Effectively Present Your Idea to Stakeholders.

For even the most organised and motivated entrepreneur, writing a business plan can be a daunting task. After all, your business plan, or business proposal is your first opportunity to make critical evaluations of your idea, and to view it from the perspective of different stakeholders.

You can find a host of business plan how-to articles and even great templates online, so in this article, Instant Group discusses some of the universal best practices that apply to any business plan.

To get the ball rolling, let’s take a broad view of the essential information that needs to be in your business plan:

1. Explain your value proposition: What unique value will a buyer get from your product or service?

2. Explain your position in the market: What about the market in which you want to trade has created a gap that your product or service can fill?

3. Define your competition: Which products or services will you be competing with and why do you think you have an advantage?

4. Make accurate financial and timeframe predictions: If done astutely, this information shows investors and stakeholders that you have critically considered the challenges and milestones that your business idea needs to reach, in order to become profitable.

Write in a Professional Tone

Tone has a massive impact on the reader and strongly influences how he or she might interpret and react to your writing. For this reason, it’s vitally important that you understand the tone that a business plan should be written in.

Be succinct